Currently there are no assumptions for dividend payments, said the representative of JSC “Enel Russia” during a phone call for analysts.
MOSCOW, 29 Oct. PJSC “Enel Russia” has no plans to pay dividends by the end of 2015, said a company representative during a telephone call to analysts.
The company’s loss for the first nine months of 2015 under IFRS amounted to 49,66 billion.
“The current dividend policy of the company provides for the payment of dividends from the net profit from ordinary activities under IFRS. Even excluding effect from impairment, we do not expect that it will be possible to achieve positive results at year-end,” said a company representative.
“Accordingly, at the moment, preconditions for payment of dividends under the current policy no, unless the Board of Directors, in whose competence is the issue, decides otherwise”, he concluded.
By the end of 2014 “Enel Russia” has directed on payment of dividends to 2.86 billion rubles. Formally, the dividend for 2014 was paid not out of profits in accordance with IFRS for the respective year, which amounted to 5.6 billion rubles, and from the accumulated profit of previous years.